* Chile's peso at four month highs * Rising iron ore prices push Brazil's real higher * Latam FX up 0.1%, stocks down 0.1% By Shashwat Chauhan May 16 (Reuters) - Most Latin American currencies slipped on Thursday, as a resurgent dollar ticked up following last sessions' declines, though the Brazilian real bucked the trend amid rising iron ore prices. Brazil's real appreciated 0.2% against the dollar, as iron ore prices, one of the country's top exports, gained on news of authorities in top consumer China considering government purchases of unsold homes. Separately, data showed inflation in Brazil as measured by the IGP-10 price index rose 1.08% in May, compared to a 0.33% drop in April. Mexico's peso dipped 0.1% against the dollar as the greenback regained strength, though hovering near its highest level in over a month. The dollar index, which measures the greenback against a basket of global peers recouped some losses to rise 0.3% after Wednesday's fall when data had showed U.S. consumer prices increased less than expected in April, which boosted hopes that the Federal Reserve could kickstart its policy easing cycle as early as September. "Wednesday's US CPI report was notable because it seemed to mark an end to the stream of top-side surprises that began in January," Macquarie strategists noted. "The bad news, though, is that one month of at-consensus core CPI may not be "enough" to start the Fed's countdown on a rate cut." Colombia's peso shed 0.2%, while Peru's sol was last down 0.6%. Chile's peso staved off steep losses to rise 0.3%, touching its highest level in over four months, its fourth successive day of gains. As of 10:40 a.m. ET (1440 GMT), MSCI's index for Latin American stocks shed 0.1%, while a gauge for currencies edged 0.1% higher. Heavyweight Brazil's Bovespa stock index was flat, as gains in consumer staples and health care stocks were countered by falling energy shares. Equities in Mexico slipped 0.2%, while those in Argentina fell 0.5% after logging sharp gains in the last two sessions. Argentina will post a budget surplus in April for the fourth consecutive month under the new government, the country's economy chief said late on Wednesday, touting the trend as a reflection of stronger finances in the midst of an economic slump. HIGHLIGHTS: ** Swap old for new: China's latest property market plan off to a poor start ** Israel Q1 economic growth rebounds 14.1%, lifted by shopping, building Key Latin American stock indexes and currencies: Stock indexes Latest Daily % change MSCI Emerging Markets 1097.68 1.2 MSCI LatAm 2489.15 -0.09 Brazil Bovespa 128109.72 0.06 Mexico IPC 57316.65 -0.24 Chile IPSA 6711.70 0.01 Argentina MerVal 1469299.74 -0.575 Colombia COLCAP 1411.92 0.4 Currencies Latest Daily % change Brazil real 5.1257 0.21 Mexico peso 16.6920 -0.07 Chile peso 901 0.34 Colombia peso 3826.25 -0.21 Peru sol 3.7207 -0.42 Argentina peso 886.0000 0.00 (interbank) Argentina peso 1075 2.33 (parallel) (Reporting by Shashwat Chauhan in Bengaluru)